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Jun 16, 2012

Gross direct tax collection up by 3% for April and May

Gross Direct Tax collections during April-May of the F.Y. 2012-13 was up by 3.62 percent at Rs. 52,232 Crore as against Rs. 50,407 Crore in the same period in F.Y.2011-12. While Gross Collection of Corporate Taxes showed a decline of (-) 2.82 percent during April-May of the F.Y. 2012-13 and stood at Rs. 24,329 Crore as against Rs.25,035 Crore in the same period in F.Y. 2011-12. Gross collection of

Personal Income Tax was up by 10.02 percent and stood at Rs.27,884 Crore as against Rs.25,344 Crore in the same period in F.Y. 2011-12. Net Direct Tax collections, however, showed a significant increase by

172.64 percent during April-May of the F.Y. 2012-13 and stood at Rs.35,323 crore, up from Rs.12,956 crore in the same period in F.Y.2011-12. This upward surge in Net Collections was due to declined in refunds by (-) 54.85 % as compared to year ago period.

Growth in Wealth Tax was (-) 16.67 percent during April-May of the F.Y. 2012-13 and stood at Rs.15 Crore as against Rs.18 Crore in the same period in F.Y.2011-12.On the other hand, growth in Securities Transaction Tax (STT) was 7.36 percent during April-May of the F.Y. 2012-13 as against Rs.540 Crore against Rs.503 Crore in the same period in F.Y.2011-12 .